Reckitt Benckiser wants out of pharma

Reckitt Benckiser is getting out of the pharmaceutical business. Bloomberg reports that the company plans to spin off the unit so the main company can focus solely on consumer health.

RB expects the split to wrap within the next 12 months, but has indicated it was open to selling the business if it could find a taker. Bloomberg notes that the addiction treatment Suboxone is the division's key drug. CEO Shaun Thaxter is expected to continue to run the unit post spin-off.